Virtual currency acceptance status by country just for fun

First of all, some case studies on the application of virtual money in each country may have some old data, so please do not trust it unconditionally but just look it up for reference.

It strictly regulates the use of illegal virtual money, leading to its role as a substitute for existing money in everyday life.

Legitimate handling of encrypted virtual money, which is represented by bit coins, has been applied in various countries around the world.

For example, in Germany, we are legitimizing bit coin as a special currency, but in China, we do not recognize it as currency, and there are restrictions on the handling of public financial institutions. And in Denmark, we decided not to charge taxes on everyday transactions by bitcoin.

Allowed countries

USA :

Bitcoin transactions, donations, and payments are available. It is recognized as an asset and capital income tax is applied. There is also a plan to tax the mining activities according to bit coin price.

Australia :

The government has issued taxation guidelines.

Canada :

Classified as intangible assets, the tax office announced taxation policy.

England :

VAT is not applied when exchanging bit coins for pounds or foreign currencies. However, other virtual currency is VAT applied to the seller.

Germany :

Treats bit coin as a unit of calculation. It is said that it can be used for taxation and transactions in Germany and it is expressed as "exclusive currency".

Hong Kong :

Apart from China, the Chief Supervisor of  Financial Bureau said that Bitcoin was a virtual product and did not regulate it.

Israel :

The phase in which you are reviewing the tax on the bit coin.

Japan :

The government recognized it as an official payment method of bit coin (March 6, 2016).

Norway :

It is considered to be an asset of the individual rather than money. Profits are subject to taxation. Commercial bitcoin sales are regulated as taxable.

Philippines :

The Philippine central bank has issued a statement on the risks associated with the use and trade of beat coins, but does not currently regulate the transaction of bit coins.

Singapore :

If you consider a bit coin transaction to be a barter, and you sell a bit coin as a job, you will be taxed on the basis of sales of bit coin.

South Korea :

Although there was no legal system before 2016, it is decided to promote the digital monetary system from 2017. Detailed institutionalization plans are expected in the first quarter of next year (2017).

Swiss :

The Swiss federal parliament has asked the government to assess and review the availability of bit coins in the country's financial sector. We also asked for clarification of laws such as value-added tax, security and money laundering.

Turkey :

By law, Bitcoin is not considered a currency and therefore not regulated.

Partially accepted countries

China :

Payment by bit coin is prohibited by law, but transactions between individuals are possible.

Columbia :

We do not accept bit coins as currency, so they do not have value, but we have the responsibility for that.

India :

In June 2013, the Reserve Bank of India (RBI) expressed its view that digital currencies are a challenge to foreign currency trading laws, and investigations have been conducted on India's bitcoin trading platform vendors. However, in December of the same year, the vice-chairman of the RBI said there was no regulatory plan for bit coin.

Indonesia :

We have announced that virtual currency including bit coins is not a legal currency, and the risks associated with the possession and use of virtual currency are the individual's responsibility and warned of their use. However, he said he did not have a policy to regulate or prohibit bit coin.

Russia :

We will establish a legal framework to prevent illegal use of bit coin and to protect citizens and businesses.

Thailand :

Bitcoin is said to be used in exchange for foreign currency in Thailand. But he said there is no plan to expand the scope of the law on regulation.

Taiwan :

The governor of the CBC has said that it takes steps to prevent money laundering by deeming bit coin to be similar to a precious metal transaction. We are watching the beat coin, and we have plans to regulate it in the future.

Forbidden country

 Bangladesh, Bolivia, Ecuador,  Iceland, Jordan, Kyrgyzstan, Lebanon, etc.

Virtual currencies, including bit coins, are expected to grow more and more, and legal regulations on it will probably be strengthened. Many experts have commented that there is a negative view that virtual money is being used for illegal transactions in recent years, but there are more positive aspects than that.

Our steemit friends think that seeing this posting at the moment is a bright future for virtual money. Our steemit friends should use the right idea of virtual money first and then try to make it more convenient money life later.

It was a virtual monetary allowance standard for countries that were fun. I would appreciate it if you would like to follow up and upvote. :)